New Delhi, March 23 (IANS) The Supreme Court on Monday stressed the need for a coordinated, fair, and time-bound investigation into alleged large-scale bank frauds linked to Anil Ambani’s Reliance Communications (RCom) and its group entities. A bench, headed by Chief Justice of India (CJI) Surya Kant, observed that investigating agencies such as the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) must “join hands” and work in coordination to unearth the truth in a tr…
Latest Financial Institutions News & Updates
New Delhi, March 11 (IANS) India undertook an “ambitious financial‑technology transformation in modern history,” to become “one of the world’s most advanced digital payment ecosystems” creating a model for developing economies, a report has said.India’s model shows how “government policy, technological innovation and widespread mobile connectivity can combine to create efficient payment infrastructure,” the report from Azerbaijan-based News.az said.India’s digital payment revolution has …
New Delhi, Feb 27 (IANS) Prime Minister Narendra Modi on Friday said that this year’s Union Budget lays the road map for a ‘Viksit Bharat’ — driven by technology, reforms and finance — and all the stakeholders need to collectively ensure that reforms reach the grassroots level.Addressing a post-Budget webinar, PM Modi urged the stakeholders to transform reforms into solid results, suggesting to create a charter involving the government, industry, financial institutions and academia to achi…
New Delhi, Feb 20 (IANS) Under the Delhi Startup Yuva Festival 2026, Delhi Minister for Training and Technical Education Ashish Sood on Friday interacted with 100 student startups at a programme hosted at Indira Gandhi Delhi Technical University for Women. Sood announced that the Delhi government will soon introduce a comprehensive “Startup Incubation Policy.”Under this policy, Rs325 crore will be allocated over the next five years to provide end-to-end support to 5,000 startups from campus …
Seoul, Feb 20 (IANS) South Korea’s household credit growth slowed in the fourth quarter of 2025 amid tighter lending regulations, though the total outstanding amount reached an all-time high, central bank data showed on Friday.Outstanding household credit stood at 1,978.8 trillion won (US$1.36 trillion) as of end-December, up 14 trillion won from three months earlier, according to the preliminary data from the Bank of Korea (BOK), reports Yonhap news agency.The reading marks the highest since th…
New Delhi, Feb 12 (IANS) India’s inflation rate based on the Consumer Price Index (CPI), with the new base year 2024, for the month of January this year is estimated at 2.75 per cent compared to the same month of the previous year, according to official data released by the Ministry of Statistics on Thursday.The food inflation came in at 2.13 per cent during the month. Prices of vegetables such as potatoes, onions and garlic declined during January along with the prices of pulses such as arhar…
New Delhi, Feb 10 (IANS) Union Home Minister Amit Shah said on Tuesday that cybercrime is a major threat to the world and added that he will be addressing a national conference on tackling cyber-enabled fraud and dismantling the ecosystem. The conference is being organised by the Central Bureau of Investigation (CBI) with the aim of bolstering India’s cybercrime combat prowess.Taking to the social media platform X, the Home Minister said, “Cybercrime is a major threat to the world today. Our…
Washington, Feb 6 (IANS) Artificial intelligence has emerged as a priority risk for the US financial system, with Treasury Secretary Scott Bessent telling Congress that regulators are stepping up oversight of how AI is used across markets and institutions.Testifying before the Senate Banking Committee, Bessent said AI is one of four focus areas in the Financial Stability Oversight Council’s 2025 annual report. “The council is prioritizing the responsible use of artificial intelligence to str…
Washington, Feb 5 (IANS) Artificial intelligence is becoming a new focus for US financial regulators. Treasury Secretary Scott Bessent told Congress that AI can strengthen markets, but it also poses risks that require close monitoring.Bessent was testifying before the House Financial Services Committee on the Financial Stability Oversight Council’s 2025 annual report. He said AI is now one of the four top priorities for protecting the financial system. The others are Treasury markets, cybersec…
Chandigarh, Jan 30 (IANS) In a major reform aimed at removing long-standing administrative bottlenecks in agricultural lending, the Haryana government is set to launch a transparent and technology-driven rural credit system that will free farmers from the routine of running between banks and revenue offices for loan-related documentation, said state Financial Commissioner (Revenue) Sumita Misra on Friday. The government will soon sign a memorandum of understanding with the Reserve Bank of India …